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Betting Glossary: Your Comprehensive Guide to Betting Terminology

Welcome to the GOSUBETTING Betting Glossary, your ultimate resource for understanding the terminology used in the exciting world of sports betting and betting sites. Whether you’re a regular bettor looking to brush up on your knowledge or a newcomer seeking to grasp the basics, our comprehensive betting glossary provides clarity on the language of betting.


Accumulator (Acca):
A single bet that links together multiple individual wagers. To win, all selections must be correct.

Arbitrage Betting:
A strategy where a bettor takes advantage of differing odds at various bookmakers to guarantee a profit.

American Odds (Moneyline Odds):
Odds displayed in the American format, either positive (+) or negative (-) numbers representing potential profits or the amount needed to win $100.


The total amount of money a bettor has set aside for betting.

Bookmaker (Bookie):
A person or organization that accepts bets and determines odds.

Betting Exchange:
A platform that allows bettors to bet against each other rather than a bookmaker, enabling lay betting.

To bet on a selection to win, also known as a “back bet.”

Bet Slip (Betting Slip):
A physical or digital form used to record selected bets before confirming.


Cash Out:
A feature that allows bettors to settle their bets before the event’s conclusion, often used to lock in profits or minimize losses.

Refers to the favored team or athlete in a betting event.

When a team or athlete wins against the point spread.

Closing Line:
The final odds offered by bookmakers just before an event begins.

Circled Game:
A game in which the maximum bet limits are reduced due to various factors, such as uncertain player availability.

Correct Score Bet:
A wager on the exact final score of a game or event.


Double Chance:
A bet that covers two potential outcomes in a match, increasing the chances of winning but often with lower odds.

Decimal Odds:
Odds displayed in decimal format, representing the potential return on a winning bet, including the stake.

Dog (Underdog):
The team or athlete considered less likely to win, often with higher odds.

Draw (Push):
A result that neither wins nor loses a bet, typically when the final score matches the point spread.

Dime Line:
A betting line with a 10-cent difference between the favorite and underdog odds.


Each-Way Bet:
Common in horse racing, a bet that is split into two parts – one for the win and one for a top finishing position.

Exotic Bet:
A non-traditional bet, such as a parlay, teaser, or prop bet, often involving multiple selections.

Expected Value (EV):
A statistical measure used to assess the potential value of a bet, helping bettors make informed choices.


Futures Bet:
A long-term bet on an event or outcome that will occur in the future, such as betting on a team to win a championship.

Favorite (Fav):
The team or athlete considered most likely to win, usually with lower odds.

First Half (1H) Bet:
A bet placed on the outcome of the first half of a game, excluding the final result.

Fractional Odds (British Odds):
Odds displayed in fractional format, representing the potential profit relative to the stake.

More Betting Glossary


Goliath Bet:
An extensive multiple bet that includes 247 different bets on eight selections.


Handicap (Spread):
A point-based advantage given to the underdog to level the playing field in a bet.

Placing additional bets to minimize potential losses or guarantee profits.

A half-point added to betting lines to avoid ties or pushes.


In-Play Betting (Live Betting):
Betting on an event while it is in progress, with odds continually adjusting based on the game’s dynamics.


Juice (Vigorish, Vig):
The bookmaker’s commission or fee for accepting bets, typically built into the odds.


Kelly Criterion:
A mathematical formula used to determine the optimal size of a series of bets for long-term growth.


Lay Betting:
A type of bet where you act as the bookmaker, betting that a selection will not win.

A selection with very low odds of winning, often considered an underdog.

A bet perceived as having a high probability of winning.


Martingale Betting System:
A betting strategy where the bettor doubles their stake after each losing bet to recover losses.

Moneyline Bet:
A bet on the outright winner of a game or event, with odds expressed as positive or negative numbers.

Multiple Bet (Combo, Parlay):
A bet that combines multiple selections into a single wager, offering higher potential payouts.

More Betting Glossary


In horse racing, a horse that is withdrawn from a race before it starts.


The numerical representation of the likelihood of an event happening, determining potential payouts.

Over/Under (Totals):
A bet on whether the total score of a game will be above or below a specified number.

Outright Bet:
A wager on the winner of an entire tournament or competition rather than individual matches.


Point Spread (Spread):
A margin of points by which the favored team must win or the underdog must lose by to cover the bet.

Proposition Bet (Prop Bet):
A wager on a specific aspect of an event, not directly related to the final outcome.

Another term for a tie or draw bet, where the final result equals the point spread.


Quarter Bet:
A bet placed on the outcome of a specific quarter of a game, often used in basketball and American football.

Betting Glossary Continued


Round Robin Bet:
A type of multiple bet that creates combinations from a group of selections, ensuring that each selection is paired with every other.

Rollover Requirement:
The number of times a bettor must wager their initial deposit or bonus amount before withdrawing winnings.


Single Bet (Straight Bet):
A simple bet on a single selection or outcome.

Sharp (Wiseguy):
A professional bettor known for making well-informed and successful bets.

Steam Move:
A sudden and significant shift in odds due to heavy betting action on one side.

Super Heinz Bet:
An extensive multiple bet that includes 120 different bets on seven selections.


Teaser Bet:
A type of multiple bet that allows bettors to adjust the point spread in their favor in exchange for lower odds.

A person or service that sells sports betting picks or predictions.


A selection with odds considered lower than its actual chances of winning.


Value Bet:
A bet placed when the bettor believes the odds offered by the bookmaker are higher than the actual likelihood of the selection winning.


Wager (Bet):
The act of placing a bet or gamble on an event.